Resource Stock Roundup Wednesday, October 1, 2008
Oct 1st, 2008 | By Doug Casey | Category: Financial News, Gold MarketTwo steps backwards and one step forward is the name of the game as the Canadian Markets recovered from Monday’s drubbing by posting solid gains during Tuesday trading. For the tale of the tape, the TSX Exchange rallied 4.15%, while the TSX Gold Index fell 0.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, tacked on 2.39% with the advancing issuers inching past the decliners by a 474 to 460 margin on volume of 122 million shares traded.
Shares of Teck Cominco (TCK.A, TCK.B) rebounded from Monday’s drubbing. The diversified miner added C$1.30 to close at C$30.22.
Linear Gold (LRR) failed to attract buyers after reporting a 5.07 metre drill intercept running 10.2 grams gold per tonne at its El Filao project in Brzil. Linear ended the day down C$0.06 at C$1.05.
Shares of Committee Bay Resources (CBR) bounced off the mat after the company tabled a 13.59 metre drill intercept grading 23.53 grams gold per tonne at its Three Bluffs deposit in Nunavut. Committee Bay ended the day up C$0.015 at C$0.115.
Beaten down uranium player UEX Corporation (UEX) added C$0.17 to close at C$1.51 after the company reported that the Horseshoe deposit in Saskatchewan holds an indicated resource of 3.578 million tonnes grading 0.237% U308 and an inferred resource of 311,000 tonnes grading 0.208% U308.
The junior explorers showed a bit of life on Tuesday but as the financial turmoil continues to unwind, the worst may not yet be over for the resource players. We will see what Wednesday trading has in store.
Source: Resource Stock Roundup Wednesday, October 1, 2008
Advertisement
How Drastically Could You Improve Your Investing in Just 2 Months?
Marion from Surrey, British Columbia said “Since I have joined MarketClub I have made $7,000.” Darrin from Minnesota made 159% on his first trade.
Countless other members over 40 countries tell the same story. Their success was thanks to a powerful, simple-to-use investment tool named MarketClub.
With MarketClub you receive access to…
* A proprietary scanning tool that identifies charting patterns primed for large moves.
* The customizable News Scan that lets you set up a scan to find stories on only the markets that you want to know about.
* The Trader's Blog which lets you share ideas with fellow traders along with the MarketClub team. We’ll answer your questions, post tips, share trading ideas, and post online market analysis videos based around MarketClub's methodology and tools.
And much, much more.
The best part is that right now, you can try MarketClub RISK FREE for 2 full months.
Doug Casey is a contrarian investor, sought-after public speaker and author of several books. His work "Crisis Investing" held the position of # 1 bestseller on the New York Times list for 26 consecutive weeks. Doug's unusual views on the economy - and just about everything else - have gained a huge following in the investment community, and it certainly helps that his stock recommendations of undervalued junior exploration companies have made his subscribers millions. Now in its 27th year, Doug's monthly newsletter, the International Speculator, is one of the most established and esteemed publications on gold, silver and other natural resource investments. Together with the Casey Energy Speculator, it covers a broad range of carefully selected stocks with the very real potential of double- and triple-digit returns within 12 to 24 months.